Landmark Texas home becomes most expensive on the market with $60M price tag

A landmark Dallas home long considered North Texas’ most expensive estate has hit the market again.

The more than 15-acre Crespi Estate — once owned by Tom Hicks, a Dallas investor and former owner of the Texas Rangers and Dallas Stars — comes with a $60 million price tag.

The 27,000-square-foot, 10-bedroom, five-bath mansion has been owned since 2019 by a trust of Dallas’ Cox family. Real estate agents with Dallas’ Allie Beth Allman & Associates are listing the grand property for sale.

“We are getting ready to put the property on the market,” said Allman & Associates’ Kyle Crews, who is working with the firm’s Michelene Galbraith to market the historic mansion.

Built in the 1930s by Italian-born cotton baron Pio Crespi, the French chateau-inspired house is covered in Indiana limestone and decorative ironwork.

The Crespi Estate includes a 3,347-square-foot guesthouse and a 4,836-square-foot pool house on landscaped grounds near the northwest corner of Walnut Hill and the Dallas North Tollway.

The estate was last listed for sale at $38 million before being acquired by representatives of the Charlee Lochridge Cox Dynasty Trust. The trust was founded by Dallas’ prominent Edwin L. Cox family.

“They own a couple other homes elsewhere,” Crews said. “They’ve decided to let someone else have the pleasure of owning it and take it from here.”

The sellers have made upgrades to the mansion. “They have done some things over the course of the last couple years,” Galbraith said.

The current owners also acquired a smaller property next door to add to the estate.

Previous owners Hicks and Dallas developer and investor Mehrdad Moayedi spent millions to renovate the property. Moayedi divided the estate to create a gated community of custom homes fronting on Walnut Hill Lane.

Moayedi acquired the Crespi Estate from Dallas banker Andy Beal, who is currently renovating the Cox family’s historic estate on Turtle Creek in Highland Park. Beal is one of Dallas-Fort Worth’s wealthiest residents, with a net worth estimated by Forbes at over $10 billion.

With its $60 million list price, the Crespi Estate is by far the most expensive residential property listed for sale in Texas. The second highest-priced real estate listing is also in the Dallas-Fort Worth area: a $23 million, 13-acre estate in Flower Mound.